Business
Sterling Consolidated Announces Third Quarter 2017 Results
Sterling Consolidated Announces Third Quarter 2017 Results.
About this update from Sterling Consolidated Corp
[{"type":"text","content":"\n\n NEPTUNE, N.J., Nov. 28, 2017 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, reported its results for the third quarter ended September 30, 2017.\n Key Highlights for the Third Quarter 2017: Quarterly revenues increased to $1.587 million, up 14.6% from the third quarter 2016 to the third quarter 2017Revenues increased by $517,278, up 11.7% for the 9 months ended September 30, 2017 compared to the 9 months ended September 30, 2016.Operating income for the 9 months ended September 30, 2017 was $123,197Net Income was $83,161 for the third quarter 2017 Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, “The strong third quarter results continue to demonstrate how the industrial sector has recovered from a down 2016. This growth places us in a stable position to execute on the Company’s forthcoming strategic plan for expansion.” To be added to the Sterling Consolidated investor email list, please email Scott Chichester at [email protected]  About Sterling Consolidated Corp. Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers. Forward-looking Statements This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations...